• Ssemujju Lewis E

South Africa’s Economy On Red Alert For Second Coronavirus Wave

The world is now operating with a keen observation of the prevalence of the novel Coronavirus and South Africa is no exception.

South Africa’s economy could contract 8.2% this year and grow just 0.6% in 2021, if it is hit by a second wave of coronavirus infections that also affects major trading partners, according to OECD.

If the second wave of infections is avoided, the economy will probably contract 7.5% in 2020 before rebounding 2.5% next year, the OECD said in its latest report on Africa’s most industrialized economy.

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